Toronto-Dominion Bank reported fiscal third-quarter adjusted diluted earnings per share of C$2.77, up 26% from C$2.20 a year earlier, while adjusted net income rose to C$4.67 billion from C$3.87 billion.
Total revenue increased 6% to C$16.92 billion, compared with C$16.03 billion in the same period last year. The provision for credit losses declined to C$917 million from C$1 billion, supporting profitability. Adjusted return on equity rose to 16% from 14.4%, and adjusted return on tangible common equity increased to 19.1% from 17.2%.
TD’s shares were up 1.4% in U.S. premarket trading by 06:49 ET, following the results. Group President and CEO Raymond Chun highlighted record earnings in Canadian operations and Wholesale Banking, alongside growing momentum in U.S. Banking.
Canadian Personal and Commercial Banking net income rose 7% to C$2.10 billion, with revenue up 5% to C$5.52 billion, driven by deposit and loan growth and higher margins. U.S. Banking adjusted net income climbed 12% to C$1.07 billion, while return on equity reached 10.2%. Wealth Management and Insurance net income increased 20% to C$841 million, supported by record assets and higher premiums.
Wholesale Banking adjusted net income surged 76% to C$743 million, reflecting higher revenue and lower credit loss provisions despite increased non-interest expenses. The bank emphasized disciplined execution and continued investment in client relationships, AI, and innovation as part of its strategy.
